President of Allstate Protection steps down

July 18, 2011|By Wailin Wong | Tribune staff reporter

Allstate Corp. said Monday that Joseph Lacher, the president of Allstate Protection, is leaving the company "effective immediately."

The Northbrook-based company offered no other details on Lacher's departure and did not name a replacement. He oversaw oversaw residential and car coverage businesses that have been struggling amid steep losses on tornado claims and declining sales.

The presidents of Allstate Protection's businesses will repor directly to Chief Executive Thomas Wilson in the interim, the company said.

The company gave no explanation for the departure of Joseph Lacher, who led the unit selling auto and homeowner's insurance since November 2009.

Walsh said Lacher was brought in to fix the underperforming unit. Allstate's auto-market share fell between 2007 and 2010 while Progressive Corp. and Geico gained customers, and the homeowner's business also lagged rivals, he said.

Lacher joined Allstate in November 2009 after having worked at Travelers for more than a decade, eventually becoming chief executive officer of Personal Insurance and executive vice president at the competing insurance firm. At Allstate, Lacher succeeded George Ruebenson, an executive who retired after almost 40 years at the company.